Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-08-12

vARIope EsTnArRs on LiADnnrR AND As8Ryp.
WHAT THE NEW YORK PArKRs sAY.


90 she Walls
VARIOUS nsrnarn on nAsnrm AND AxsrU-
WHAT THE NEW YORK fArEm kAY.
The nrm Of Ives. stayner Co, OF which Henry
s. Ives Is the head and spirit made an assignment
FOR the beneflt OF their creditors yesterday Ths
assignee Is Nj. Charles II. Cromwell q member Of
the Law firm OF sullivan Cromwell, legal adviser
TO Ivee co. Mr.. Ives estimates the liabilities OF
his f,rm At go 600 and the assets at s2l ooo-
Oo0 He declined 70 give any detailed account Of
Ills financial condition, nor would he explain the
cause Of his firms assignment New YORK speA
cta TO the Baltimore Sun says: Ne was cool, sell.
possessed and smiling all day; but his two part
ners. stayncr and Doremus, were very much up
SET Mr.. Ives calmly lays all OF his troubles 10 the
new newspapers He SAYS that they have .'hounded-
him 70 point where he cannot DO business Wall
street greeted the announcement OF Ives a Co.'S
failure with cheers and iaughter-cheers because
lions had begun to make him a mischievoSs eie-
ment In the stock market; laughter because, a.
most OF the old operators remarked another 'Na-
orally believed that THIS assignment was made 70
enable The urn OF Ives 4 Stayner 60 gain tina
Inc TWO committees appointed 70 investigate the
ahaS Of The Cincinnati. Hamilton and Daytor
haiiroad are Flooding along IN secret sessions
IN the course OF an interview Mr.. Cromwell saidi
venlence than necessity. There were SO many in
urests involved, including the Cincinnati Hamil-
t ySa ana DAYTON kailroad the Dayton and Mich
the Dayton and Fort Wayne, the vandaiia and
other roads, beside individual creditors-that IL
In control To give this control Ives q Co had 70
asAen. All the Notwithstanding Christopher
Meyer, Fellows Morgan, Alfred sully, the FaN
were consulted as TO who should have control
Ihey united on me. In a few days shall prob
sstance Of powerful nSsst snG w shai 'l ces s
lleuluaton at once. IL Is impossible for me 10
give the amount Of liabilities but do not think
they Will exceed &lQoooo0o."
From other sources Il was learned that the la
Dliuos would exceed SO, 600. Of this sum the
Shtnelnnati Hamilton and nayton's claim Is for
Harrisons Of the First National Bank, u, oooooo;
Alfred Sullys, 100000; the Farmers Loan and
Trust GO 3 sso0. 900; Irving c. Evans of Boston,
f2SI,0O0. There are many other claims held by
rallroAos ana brokers, In whose names loans had
oeen made out In the list OF claims above given
Christopher Meyers claims for several millinns 4
not introduced, as Mr.. Meyer is charged with being
a silent partner in the frm. Mr. starbucks olsim.
which is secured by q mortgage on the YACHT
which he sold Ives, Is also omitted, as Just now
the street estimates no claim under Sio06OO
iAsuInEs' si''ooSoO0; AssR" Al o. rn
Under this heading the New York Sxu avn.
The liabilities OF Ives & Co. are without doubt
overestim ated by the senior partner. very care
ful estimate, In fact a. accurate nyures as can
ne obtained without actual aocounting puts his
about spd 20 t sed e g, At
Quilted about &c, 600, O00-a total Of az COO 600
Inc amount due TO corporations 10 OF course ha-
Que 10 De reduced by OFFSETS and by the recovery
70 the c. h. ID. Company or e. 500 600 OF pre-
ferred stock issued without condensation
when IL comes TO assets Il is hard 20 approx
maue the ngures given by Ives. OF course eli VI
the debts 70 individuals and money lenders are
secured, and the assets pledged for them may be
Sumclent 70 cover the amounts advanced N 80
they may be counted IS good for about O. 500, geo
but Inere IL no certainty that the assets thus
pledged viii equal the amounts they ARE held for.
especially considering the debauched condition OF
all the properties that Ives has put his hand to-
I Inc corporations have no security beyond the
creoit on the books OF Ives Go. The only Assets
mat can be regarded as available for the un.
secured debts are the possible equity In the loanA
tne equity In the steam yacht T1lie above the
ssf9s,9 70 m9Ssgs and the suit egsinst Robert
and ID. preferred
The New York Herald to-day says: The real fact
undoubtedly is that Ives was compelled to make
the assignment by the big Cincinnati holders OF
the Cincinnati Hamilton and Dayton stock They
had lost all confidence In the Willy young nego.
tlator, ana they threatened measures which would
be extremely unpleasant 20 him unless he imme-
dately turned his enects over 10 an assignee They
refused TO go back 20 Cincinnati unless THIS was
agreed 70 and the New York banken who had
loaned money 70 Ives 4 90. were ready enough 90
join In the scheme when they found such Bold
men like Harrison Meyer, Evans and sulIy were
In favor OF It. They were willing TO put up money
as syndicate 70 repay Ives loans and get the col
lateral back, as the oily way OF avoiding law
suits and further complications and losscS But
they would not trust Ives any longer. They would
everything must be done through assignee, and
nineteen out OF twenty OF the creditors selected
Mr. Cromwell. There can be no doubt that this
Wednesday, and that yesterdays assignment was
merely completion or a prearranged program I'm